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2021 Maryland Statutes
Corporations and Associations
Title 5 - Special Types of Corporations
Subtitle 5 - Agricultural Cooperatives
Section 5-509 - Payment by Subscriber Before Certificate of Stock or Membership Issued
Universal Citation:
MD Corporations and Associations Code Ann. § 5-509 (2021)
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A stock certificate may not be issued to any subscriber until the stock is full paid. In a cooperative organized without capital stock, a certificate of membership may not be issued to any person until the membership fee is paid in full.
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